I bought my oil and filter at autohausaz.com; their prices are pretty competitive and you get free shipping over $50.

You can verify your part number for your oil filter at realoem.com. Good luck!

 

I'm supposed this will also apply to '07 550i, correct? I have an '07 550i.

 

Old thread bump.

I changed the oil in my 2007 550i for the first time this weekend. (normally always done at dealer).

A few comments:

Annoying the access panel under the car is really not large enough. The oil filter housing isnt just a drop down once removed, you have to maneuver it around the underpanel.

I had to purchase a larger oil container given the 9 qt capacity...but it is amazing how quickly the oil comes out when warm. I thought it stopped early but it was all out. I had to stick the plug back in quickly to stop the flow as my oil container was going to overflow (it is one of those flat top containers with a small hole in the center)

finally, with about 8k on the oil, it was BLACK.

 

Remember to bring your car to a level ground state to allow the oil to fully drain. If you keep the car up on ramps, jacks, jack stands, etc., you will not drain all of the old oil.

BMW did not place the drain plug on the back/lowest point on the oil pan. Therefore, if the car isn't level, you will leave old oil in the engine oil pan.